Ben Thypin, senior market analyst at Real Capital Analytics, said the proposed plan would require the new investors to sell condo units at well above $2,000 a square foot to be profitable, and closer to $3,000 for some units, which would be difficult in the current market.

"I think it's extremely unlikely they could sell all the units at an average price per square foot at that level," he said.

Ben Carlos Thypin

I am currently the co-founder of Quantierra, the world's first data driven real estate brokerage and investment manager. In my former life as Director of Market Analysis at Real Capital Analytics, I worked with press outlets large and small to provide them with great data and insightful commentary. Here are some of the results of this collaboration. For the rest, please check out the News Archive.